06/04/2026

BIZ & FINANCE MONDAY | APR 6, 2026

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Nextgreen secures RM50m from Bank Rakyat for expansion KUALA LUMPUR: Nextgreen Global Bhd (NGGB) has accepted a Working Capital Financing-i (WCF-i) facility of RM50 million from Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), further strengthening the group’s financial position to support its ongoing operations and growth initiatives. The financing facility, structured under the Shariah principle of Tawarruq, will be utilised to support the group’s general working capital requirements, including operational funding, procurement activities, and business expansion across its integrated green technology ecosystem. In a statement, NGGB said the facility has a revolving tenure of up to five years, providing the group with the flexibility to manage its liquidity efficiently in line with its growth trajectory. Commenting on the facility, NGGB managing director Datuk Lim Thiam Huat said, “The acceptance of this RM50 million working capital facility marks another important milestone in strengthening our financial resilience. This facility enhances our ability to support ongoing operations, optimise working capital management, and execute our strategic plans within the Green Technology Park. We appreciate Bank Rakyat’s confidence in NGGB’s business model and long-term prospects, particularly in advancing sustainable, value-added products derived from biomass.” He further added, “This collaboration reflects continued support from the financial sector for sustainable and green industrial developments. The financing underscores Bank Rakyat’s continued commitment in supporting Malaysian corporates, particularly within green and sustainable industrial sector.” Lim said this partnership is also aligned with NGGB’s broader vision of developing an integrated green technology platform including pulp and paper, fertiliser, and downstream biomass-based products. WARRANTS WATCH

LEGALLY SPEAKING

Inside Malaysia’s new self assessed stamp duty regime

WITH effect from Jan 1, 2026, a significant reform has taken place in the stamp duty landscape in Malaysia with the introduction of the Stamp Duty Self-Assessment System (SDSAS). Under the previous official assessment regime, the Lembaga Hasil Dalam Negeri (HASiL) determined the duty amount, however, under the SDSAS, taxpayers self-assess and calculate the stamp duty payable for chargeable instruments. The responsibility for identifying the classification of instruments and their corresponding duty amount has, therefore, shifted to the taxpayer. For returns submitted under the SDSAS, HASiL is deemed to have made an assessment of stamp duty immediately upon submission of

Act provides that failure to file a return will result, upon conviction, in a fine not exceeding RM10,000, or if no prosecution has been instituted, an administrative penalty of RM200 to RM2,000 imposed at HASiL’s discretion. Further, the act of omitting or understating any duty, or giving incorrect information affecting the chargeability of duty – unless the taxpayer can satisfy the court that it was done in good faith – is an offence under Section 72D of the Act wherein the convicted person shall be subject to a fine of RM1,000 to RM10,000, on top of a special penalty equivalent to the amount of the underpaid duty. Taxpayers’ responsibilities now also extend to record-keeping. Under Section 35B of the Act, chargeable instruments must be

the said return. The taxpayer will then have 30 days from that date to make payment, as stipulated under paragraph 36(1)(a) of the Stamp Act 1949 (Act). The concept of self-assessed stamp duty is not novel. Hong Kong, Singapore, and Australia have implemented a similar approach. The benefits include increased stamping efficiency, strengthened compliance with tax laws, and higher transparency and autonomy for taxpayers. The implementation of the SDSAS through the e-Duti Setem system (accessible via MyTax) also aligns with the government’s efforts to digitalise and streamline the taxpaying process. The Act also introduces new offences linked to the SDSAS. For example, Section 72C of the

maintained as records for seven years from the date that duty is paid on the instruments. Failure to comply will result in a fine of up to RM10,000, if convicted under Section 72B(d) of the Act. To ease the transition to SDSAS, HASiL has implemented a phased rollout as follows: A. Phase 1 (effective from Jan 1, 2026) – SDSAS will apply to: 1. Tenancy and lease instruments; 2. Security instruments; and 3. General stamping. B. Phase 2 (effective from Jan 1, 2027): SDSAS will apply to instruments relating to transfers of property ownership that do not involve valuation by the Valuation and Property Services Department (JPPH). C. Phase 3 (effective from Jan 1, 2028): SDSAS will apply to instruments not otherwise covered in Phase 1 and Phase 2. While taxpayers get accustomed to the SDSAS, HASiL has announced a penalty remission for any incorrect returns filed or for providing incorrect information affecting stamp duty assessment, only applicable to Phase 1 instruments which have been submitted for self assessment from Jan 1, 2026 to Dec 31, 2026. The transition to SDSAS may require adjustment due to its new compliance standards and penalties, but the implementation of the phased rollout and penalty remission provides breathing room to navigate these changes. Ultimately, prudent taxpayers must understand the legislative changes and keep abreast with HASiL’s latest guidelines to stay ahead of the curve in this new era of stamping. Contributed by Ashley Khor of Christopher & Lee Ong (www.christopherleeong.com).

New stamp duty system puts taxpayers in charge of assessment, payment within 30 days. – UNSPLASH PIX

Warrants on HSI, local stocks draw investors WARRANTS turnover last week came in at RM634.3 million, which represented a 27.8% increase week on-week (w-o-w) compared to the previous week despite the Hong Kong market being closed last Friday in conjunction with the Good Friday Holiday, and partly due to the previous week being a shortened trading week due to the Hari Raya holidays. notching in a 1.3% loss for the week and closing in the red for four consecutive weeks. The index started the week lower, retreated 0.8% on Monday on the back of the escalating tensions in the US-Iran-Israel conflict. Following Trump’s indication that the US could scale back military action against Iran within the next two to three weeks, the index rebounded strongly on Wednesday (+2%) ( WSJ, March 31 ). However, the index fell again on Thursday, following Investors traded both the call and put warrants over the HSI. The put warrants HSI-PWPJ and HSI-PWPM, emerged as the top traded put warrants in Bursa Malaysia with a total 282.8 million and 96.3 million units exchanging hands, respectively. Meanwhile, the call warrants HSI CWOK and HSI-CWO9 were the top traded call warrants by volume, with a total of 248.2 million and 107 million units traded, respectively.

Top warrants by volume traded Warrant Volume Issuer Exercise

Expiry date

name

(’mil) 282.8 248.2 107.0 96.3

level

HSI-PWPJ HSI-CWOK HSI-CWO9 HSI-PWPM

Kenanga Kenanga Macquarie Macquarie Maybank

24,000 27,000 29,000 23,000

29 Apr 2026 29 Apr 2026 28 May 2026 29 Apr 2026 29 May 2026

TOPGLOV-C5K 82.4

RM0.600

Warrants over the Hang Seng Index (HSI) recorded a turnover of RM226.3 million, which was a 14.7% w-o-w decrease. However, warrants over the Malaysian stocks saw a surge in trading activity, jumping 88.6% in terms of total turnover. The trading activity in HSI warrants came about as the HSI index saw a decline in weekly performance,

information only. This commentary has not been reviewed by the Securities Commission Malaysia. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice. The Warrants will not be offered to any US persons.

seen trading warrants such as PCHEM C1Z and HIBISCUS-C92 which were the top traded warrants for each of their respective underlyings. To view the full list of structured warrants available on Bursa Malaysia, kindly visit malaysiawarrants.com.my . Provided for Malaysian residents

On the local front, notable underlyings which investors traded warrants over, include Petronas Chemicals (PCHEM) and Hibiscus Petroleum (HIBI). PCHEM and HIBI saw a 1.7% and 0.9% gain for the week, respectively, and both stocks had rallied since the start of the US-Iran war (The Star, 7 Mar). Investors were

comments from Trump that offered no clear timeline for ending the war in Iran. While Trump suggested the US military had largely achieved its objectives, he also stated that strikes could continue over the next weeks, keeping geopolitical uncertainty elevated ( BBC, April 2 ).